Records Retention If you run your own business, you are required to retain books and records that relate to a specific taxation year for a…
When Your Children Work for Your Business If your children help you run your business, you can pay them a reasonable salary and deduct it…
Individuals with Disabilities In addition to the disability tax credit, parents and others will be able to establish Registered Disability Savings Plans (RDSP) to provide…
Home Office Expenses The income tax rules related to home office expenses (technically called “work-space-in-the-home expenses”) are similar for self-employed individuals and non-commissioned employees as…
Taxpayer Relief There are relief measures in place for taxpayers unable to comply with a particular income tax filing requirement. Under the Canada Revenue Agency’s…
Foreign Source Income If you are a Canadian resident and have received income from foreign sources, you must report this income in Canadian dollars on…
Deadlines for Filing Your Personal Income Tax Returns The general deadline for filing personal income tax returns and paying any taxes owing is April 30…
Why File a Personal Income Return? Why fill out a tax return if you have no taxable income for 2015? You might be eligible for the…
If you are a person carrying on a business (individual, partnership, corporation, registered charity, trust etc.) and are required to pay or…
